July 18 (Bloomberg) -- The Order Machine, a Dutch
alternative trading system, changed the ticker symbols for
options based on Amsterdam’s AEX Index after a court ruled it
infringed NYSE Euronext’s trademark rights.

TOM is aiming to increase market share in AEX options to 50
percent next year from 35 percent currently as it takes business
from NYSE Euronext’s Liffe derivatives division, Willem Meijer,
chief executive officer of TOM, said in a telephone interview
today. The Amsterdam-based company is 25 percent owned by Nasdaq
OMX Group Inc.

The change of tickers “is important for us as this means
our business is secure,” Meijer said. “The product is here for
the long term. In 2014 we will aim for more than 50 percent
market share in index options.”

TOM and online broker BinckBank NV have to remove all AEX
ticker symbols, used to indicate options on NYSE Euronext’s
benchmark gauge for Dutch stocks, from their websites within
four weeks, The Hague District Court said in a preliminary
ruling on July 8. NYSE Euronext’s market share of index options
has fallen by 30 percent since TOM and BinckBank began offering
contracts based on the AEX on Jan. 21, the New-York based
exchange told the judges, according to the ruling.

TOM, whose owners include Nasdaq, BinckBank and ABN Amro
Clearing Bank, has said it expects to take as much as 40 percent
of the Dutch options market by the end of the year.

BinckBank and TOM have to put a notice on their website
saying there is no trading in Liffe options based on the AEX on
TOM’s platform, and that these options are not tradeable via
BinckBank or its Alex unit, the court said. They will have to
pay 25,000 euros ($32,720) for each day they fail to meet the
court’s order, to a maximum of 1 million euros. In February
2011, TOM sued Liffe for membership of the derivatives exchange.

NYSE Euronext owns Liffe and bourses in Amsterdam,
Brussels, Paris and Lisbon in addition to the New York Stock
Exchange. The company has agreed to be bought by
Intercontinental Exchange Inc.

To contact the reporters on this story:
Nandini Sukumar in London at
nsukumar@bloomberg.net or @NandiniSukumar on Twitter